Enterprises Need ‘Security 101’ to Keep IoT Devices Safe

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Almost half (46 percent) of U.S. firms that use an Internet of Things (IoT) network have been hit by at least one security breach.

This, according to a survey by consulting firm Altman Vilandrie & Company, which said the cost of the breaches represented 13.4 percent of the total revenues for companies with revenues under $5 million annually and tens of millions of dollars for the largest firms. Nearly half of firms with annual revenues above $2 billon estimated the potential cost of one IoT breach at more than $20 million.

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